BCN 2001/08 - BC Instrument 45-507 Trades to Employees, Executives and Consultants [BCN - Rescinded]
The Commission has made BC Instrument 45-507 entitled “Trades to Employees, Executives and Consultants” effective February 16, 2001. BCI 45-507 permits issuers to issue securities to their employees, executives and consultants, while harmonizing with the regulatory regime in Ontario relating to these trades. The Instrument parallels Ontario Rule 45-503 - Trades to Employees, Executives and Consultants and, to ensure consistency, we have largely adopted the wording of the Ontario Rule despite the fact that it does not follow our normal drafting conventions and interpretations. Changes have been made from the Ontario Rule to model the resale and filing provisions on Part 10 of the Securities Rules and to permit only senior listed issuers to issue securities to consultants whose services include investor relations.
Concurrent with this Instrument being made and coming into effect, NIN #93/18 will be rescinded and BOR #96/15 will be revoked.
Questions relating to BCI 45-507 may be referred to:
Rosann L. Youck
Legal Counsel, Exemptions and Orders
British Columbia Securities Commission
(604) 899-6656 or
(800) 373-6393 (in B.C.)
DATED at Vancouver, British Columbia, on February 15, 2001.
Douglas M. Hyndman
Ref: BCI 45-507
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.